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as firms cutting staff so france still a big concern for the eurozone economy. we'll get more reaction on that in the next five minutes. at the same time, china is rolling out a new ipo plan. a 14 month freeze on new listings. companies will have to provide more disclosure in exchange for letting the market have more say on which deals get the green light. we're in sing ga pure with more market reaction. >> ross, beijing's news will bring the shanghai higher. the shendo boards tumbled 5%. the chinese deposit had its worst plunge ever. so before today the index had rallied more than 80% this year and it lost over 8% in today's trade. chinese authorities signal the likely resumption of ipo approvals as soon as next month. broker rages got a strong boost as can you see from the first row here. banks mostly ended in the green. health wide, new rules requiring cash dividends as well as the state council's announcement to start a preferred pallet program which may help banks shore up its core capital. but beijing is getting tougher on back door listings. while ipo approvals were stalling, ma
the economy to improve but not want to the fed to stop totally but yet you want to show it is getting better because sees earnings have to grow so the goldilocks scenario is the underlying growth would pick up and yet pick up later but then not have a crash when the rates go higher. dennis: you say the stocks go down with good news because we are scared of they will tie ended? but today they went up triple digits is there such an attitude to where i think the economy will go okay? >> fortunately a part of that is the investors are confident coming back to the stock market. it will go up even just people thinking it is up. >> what did you think of the report today? >> solid but not spectacular. to reduce thousand jobs is a good bumper but every other indicator was positive. most importantly we saw improvement of the for sandage other americans in the workforce. i s happy with this report but we should not be celebratory i remember in the '80s and '90s we had five budgets thousand jobs in one month but it there is no such styles as to get the jobs created. i would be a happy camper. i think th
page headlines as we head into this hour. the economy grew at a much faster pace in the third quarter than previously estimated. commerce department said gdp surged at 3.3% annual rate. that is ahead of expecting of the 2.8% pace reported early. liz: there was surprise in weekly jobless claims data. number of people applying for first-time benefits unexpectedly dropped to 298,000 last week. david: atlanta fed president dennis lockhart said it is time for the federal reserve to think about tapering easy money policies. he did not indicate whether the fed would consider taper at its meeting later this month, that is about two weeks from now. liz: european president mario draghi says inflation will be below targets next two years. ecb is ready to boost the economy if necessary. holding interest rates steady. david: new york mayor-elect bill deblasio appointed former new york city police commissioner, william bratton. he served during the giuliani administration during the mid 1990s but he was fired. liz: ford unveiled the new version of eye coon nick mustang, it will go on sale at the 50
scalp. >>> after five years of stops and starts, the u.s. economy may be in a steady recovery. the unemployment rate is the lowest in five years. home sales and price rsz up. stocks are rising. gas prices are falling. not everyone is feeling it though. a new cnn poll shows that a quarter of the public believes things are getting better. nour ten say it's getting worse. joining me now kevin hasset, former economic adviser to m.i.t. romney and annie lowry and mark zandy, chief communist from moodies an lit ikz. thank you all for joining us. so is this real? the worst has happened? and we're on the road to recovery? yes? >> yes. i think that we're clearly in a strong recovery now. if you look at the inflection and data over the last couple months, it's really the best couple of months i've seen since the great recession began. consumer confidence is soaring. auto sales jumped up to 16.4 mill dwron above the 16 million which is like the 98.6 for the economy. everything is looking good. it's that rare moment where we seem to be right on the verge of a recovery. >> wow. could someth
about this later in this half-hour? get the economy strong enough, wringing hands over federal reserve losses? charles: we are making the transition to a faster economy, the period when you hand the fed driven rally to the economy, weeks or months, and the bias will be to the downside. dagen: the fourth. and football. a missed call last week. and new technology on the field for the nfl. connell: cold weather driving that energy, we will have the forecast and latest on the market impact coming up as we continue on markets now. no one is talking about a down market but here are some winners on the s&p 500. dagen: this is what is coming up on the next half-hour of new technology that can help nfl officials and change the game looks, potentially. leading the charge as energy prices react to the bitter cold in thin the midwest. and not great news for stocks. we will dig into that even further. and a 1% on your christmas list who loves coffee? they gift for them. in short supply this year than even last. nicole: that is right. this will be hot demand item. seems somewhat irrational to some a
:30 eastern time. a dow jones survey finds that the economy probably added 180,000 jobs last month. the unemployment rate is seen slipping 7.2%. we'll talk more about market expectations in just a few minutes, but we begin this morning with our top story. nelson mandela spent 27 years in prison, led his country to democracy and became its first black president. he died at home yesterday at the age of 95. chris takes a look at mandela's life and legacy. >> history books will remember nelson mandela as one of the world' most prominent crusaders for black rights, the son of an african tribal chief, nelson mandela gave up a comfortable life and his hereditary lights to be a tribal leader to become a political activist in the fight against apartheid. the system of white rule over the majority black population. >> to feel that it is for us to continue talking nonviolence and peace. >> he was jailed for organizing demonstrations as well as treason and sabotage. he spent 27 years behind bars, but his jailing fueled the fires of freedom. his plight became an international symbol of oppressi
for the economy in his autumn statement. the chancellor is expected to lower his borrowing costs and offer suggestions that a budget surplus is in sight for the first time since the millennium. >>> still to come, we will in around 20 minutes be at college green outside the houses of parliament for a full autumn preview. joining me will be steve radially, the boss of manufacturing policy group eef. and later in the show, helia will discuss the good and the bad with the british politician lord digby jones. always were a good comment or two, digby. >>> as far as the agenda in the states today, we have initial jobless claims being released at 8:30. the number might be a preview of what might come in tomorrow's jobs report. at 8:30, we get third quarter gdp. a key benchmark on the road map to the u.s. economic recovery. and october factory orders come out this morning. they are at 10:00 a.m. >>> that's the data. what about global asset prices? let's bring you up to speed. ten minutes to the trading day, we are weighted around about 6 to 4 currently advancers outpace decliners on the dow jones s
nightmare of a cruise ship. good morning, everybody. stocks finally good news on the economy means good news for stocks. nicole is on the floor of the new york stock exchange to explain it all. nicole: we are seeing something have not seen in some time, some big gains, green arrows. triple digit gains in the dow jones industrial. we have not had an up day where at the closing bell we had i anp arrow for the dow. since before thanksgiving, since last wednesday. it is welcome especially for the bulls, but for right now it looks like we will be snapping our winning streak we have seen. up 8 of the last straight weeks, but last friday the dow closed 16,086, so some way to go with that. some all-time highs worth noting. you are hot on these names. 1064. back to you. dagen: i'm smiling because two of my favorite people on the planet are here. two of my favorite people. here to talk about this, the newest news on employers. 243,000 jobs in november beat estimate by more than 20,000 people. a five year low of ninth round. labor participation rate, the number of people in the workforce looking for wo
is the story? >> the idea is that it grows when the conomy is bad and it contracts when the economy starts to improve. projections are that in the next five years it will go back at the 1996 levels to ensure its economy and the point is to boost wages. neil: one people out of seven people, isn't that bad? >> one person out of seven people is about $23,000 a year getting for food stamps. >> i'm not sure it's one out of seven. but what i hear what melissa is saying. it's a bad economy. 65% of groceries and food stamps due to that. neil: we also relax the standards? >> yes, starting under george bush. as well as president obama. there were a requirements and tests and the like. but that is a recent development. while people are misleading others about when they say that there is not an explosion of food stamps, there's a higher growth rate. what they are saying is rescue the food stamp program for t truly poor. the. neil: we could go back and forth for who is really poo and who is not poor. but you could go beyond food stamps, now you are close to one out of three americs getting assistance.
the economy so far had not been strong enough to make its time to taper, but now that has changed? >> the economy is certainly doing better. the lead indicators, manufacturing, some of the retail numbers have certainly improved since we last talked. employment numbers are eight bit better. still not great, but it is better. the lagging one is the inflation. i think things have improved enough that maybe the injured forward enough. i suspect a very legitimate debate to move at the december meeting. so it is coming in the next few months. connell: let me go back there one more time. you talk about the fact valuations in several areas were stretched now here we are 16,035 or thereabouts). now the economy is picking up, the market still above 16,000 the pullback with friday's big again. what about the valuations as you see them today? >> they were the triple digit nasdaq companies, some of which are still fairly expensive. the market overall i don't think you can power the table and say it is cheap anymore, but it is not expensive relative to my other choices. so dependent on the u.s.
blanket over our economy. >> premiums are going up, jobs are being lost. >> we're losing jobs because of obama care. we're losing a lot of jobs because of obama care. >> whoops. turns out they're wrong. really, really wrong. today we learned the economy added 203,000 jobs in november. that means 403,000 jobs since the health care exchanges opened in october. the unemployment rate is now down to 7%. that's the lowest in five years. when the bush recession was ravaging the economy, that's why today's news is so important. five years ago, this country was on the brink of financial ruin. between december 2007 and december 2008, economic growth dropped by $143 million. key stocks fell 33%. and the private sector shed 3.7 million jobs. at the end of the bush years, the private sector was losing jobs month after month. lending and leading to fears of depression. but there wasn't a depression. in fact, president obama's stimulus helped jump start a recovery. we've now had 45 straight months of private sector growth. a remarkable turnaround. republicans were wrong about deregulation about pres
of what is expected to be a weaker payroll number in the u.s. economy. >>> germany's central bank raises its 2014 growth target for europe's largest economy as evidence shows demand from within the eurozone is finally picking up. >>> deutsche bank is to close its commodity business mainly in london and new york. display you're watching "worldwide exchange," bringing you business news from around the globe. >> a former south african president nelson mandela passed away last night at the age of 95. world leaders have been sending message messages of mourning for the leader. >> he is now resting. he is now at peace. our nation has lost its greatest son our people have lost a father. >> for now, let us pause and give thanks to the fact that nelson mandela lived, a man who took history in his hands and bent the arc of the moral universe towards justice. >> nelson mandela was not just a hero of our time, but a hero of all time. the first president of a free south africa, a man who suffered so much for freedom and justice, and a man who through his dignity and through his triumph inspired milli
remember this is an asymmetric economy and we have keep our eyes on the bottom half. >> it suggests the economy is doing better, even in the face of headwinds and moves us closer to the fed's threshold number. we may get there quicker than we expect. >> thank you for joining us. it's time for "squawk on the street." >> 203,000 jobs added in november. a jobs report headed in the right direction. i'm carl quintanilla with jim cramer. david faber is off. the 10-year yield within about 10 basis points or so of that 3% at least earlier this morning and europe is worth watching as well. looking at the jobs number, as we said, 203,000 non-farm jobs added last month, forecasts calling for about a gain of 180,000. the unemployment rate down 0.3% to 7%, the lowest level in exactly five years. the question is whether or not the fed will scale back its bond purchasing program when the central bank meets later this month. jim, whether it was u-6, the workers, the wages, there's not a lot to quibble with in this one. >> i was most concerned about an even bigger number. this is kind of good. it wa
of taper. it gives them comfort that the economy is doing well. i think friday's job report and some other items recently, i think investors are getting comfortable if it does happen in december. >> if it does happen, they say the fed is more likely to wait and happen next year. what is the fed going to be looking at at this point? you see a stronger jobs number. it's tough for a hawk to say that the feds have a definitive breakout pattern. >> that's right. our economists are saying the fed is probably interested in trying to begin the taper process. i think january is a better date. i think that will help. if we can see spending, we'll see how that will be a factor. >> you said at the end of november that december is likely to be a pretty strong month for the market. last week was a down week. what do you think the month will bring at this point? >> i think investors will want to finish the year strong. i think they're optimistic about 2014. there's still a bit of performance chasing taking place. then our position data we track, hedge fund and mutual fund data and broader macro fund posi
in economy. jobless claims below 300,000, what is this, new strength in america? >> we're going to have to go, the fed said over and over again we're going to need to see three or four months of good economic figures. let me make it as simple as possible. the battle, the war next year, the wages fought on this floor and wall street is between two calms. those that think that qe is responsible for the rise in equity prices and those that think the economy is improving and justifies the rise in equity prices. they're going to battle it out in 2014 and the fed is stuck in the middle. we've got an exciting year ahead of us. stuart: in five seconds, whose side are you on? >> i'm on the side, the qe way outpaced the economy. main street has been left out. stuart: thank you very much, scott shellady. check the big board, here we go, off and running and strong news on the economy and the market has opened lower, pointing to a loss of 30, maybe 40 points when we're fully off and running. now, this, it's the world's largest mobile market. china, 700 million potential subscribers and now apple inked a d
and inflation data, maybe the global economy is doing better. therefore, risk assets have started to rise somewhat. let's break that down for you in terms of individual sectors. the ftse down. flat this morning. the xetra dax is up .4. the ftse is up around half of 1%. one interesting picture as far as commodities are concerned today. spot gold, 1230 is where we stand. it's down 27% this year. managed to stay fairly flat post the jobs number. on the other hand, copper is down. it's really the tapering talk outweighing the better chinese data. brent holding 111.96. on the bond market, treasuries haven't done too badly today. 2.85% in europe. 2.89%. there is a sense fairly comfortable we might get some tapering. euro dollar up to 137.68. it was at 137.16. you're not far away from the six-month high we hit last week of 103.38. chinese data and sterling, 163.66 just below the six-week number we hit last week. that's where we trend right now. in europe sixuan joins us. >> thank you, ross. happy monday. asian markets gained traction. china markets ended just marginally higher ahead of this week
is the appropriate agency of resolution for so many of these problems and our society and our economy? >> i couldn't agree more. i think if they left us more -- gotten aetna, cigna, united and the blue cross plans in a room together and said let's figure this out. why don't you go on the website for us, it would have been a lot more successful and done a lot more quickly. i think the more they delegate to private k350e7bs, the better off they'll be. they're learning it the hard way. >> they're learning it the hard way. i take your point that these are good people, smart people, but not really the people i, frankly, give a damn about. i'm concerned about the american people, the people who have been promiseduch by an administration that seems to be capable of very little. the idea that we've gone through, over the last three fiscal years, they've raised over $50 billion in revenue for the affordable care act. they're on track right now. there will be an additional 500 can we put that up, $50 billion collected, 2010 through '12. then, of course, this year and next -- through the ne ten years, we'll
, is the economy stronger than free money from the fed? and number three, can interest rates and stocks both rise together? jim and jeff are in chicago. okay. guys nice to see you first of all. >> hey, sue. >> is good news finally really good news? jim you first. >> yes, it is. unfortunately yesterday, i hadn't arrived at this conclusion but i've been convinced today it piz. good news is good news because the market realizes that we're washing liquidity probably at a point where more than we should be based on the economic condition but the fed is hamstrung and going to be difficult for them to walk back. the fed knows since the fed's hands are tied let's celebrate while we can. good news, as long as it doesn't get too hot, i hate to say goldie lock's people said before me, not too hot. >> all right. moderation in all things. what do you think, jeff? >> sue, certainly adding jobs to the u.s. economy is good news, but i'm going to disagree slightly to my friend mr. your rio here. we saw that underscored on the nonfarm payrolls, we saw it go to 293 and the pits all of a sudden started selling and t
the transition to a new economy, where the federal reserve is not playing that much of a role, can happen. that's what bernanke told us what could happen. it would be amazing as a swan song if it does happen >>> speaking of the fed, front page of the business sentence, the first sentence of ben apple balm's fed piece. federal reserve officials are in no hurry to retreat. >> we're in a weird moment here. when i looked at the pan aklee of knees, not a lot of bad. not a lot of land mines. >> we had this conversation and promptly went down for a few days. >> true but the difference might be that the news flow is very positive this morning. it is indicative of the year. sisco buys a company, u.s. air. no one is thinking they will do that. here is a stock that's been stuck at 33. >> the other one is stuck, period. >> then, we have gilead and this is like apple with china mobile. this is the moment in time that people think, that's new. they create reasons to buy stocks. i was on the phone with somebody who was very big in p.c.s. this has really accelerated. >> p.c.s? >> yes. that's the reasoning behi
's economy. america's economy, what about this great? this seems to be contrary you would think that renewable energy would save energy but the opposite seems to be true. >> yes, the problem is that renewable energy, wind and solar, it is more expensive and right now they are producing about 5% of our electricity. well as coal reduces about 40%. natural gas and oil produces a substantial amount also. so here the government is trying to get us to switch to a more expensive fuel and at the same time, one that is difficult to store with wind and solar. gerri: we know it is more expensive, we are paying for them and the taxpayers are paying for all of this, either through tax breaks or the green energy companies or other kinds of write-offs. but at the end of the day, why can the grid not handle it? what is a technical issue? >> it is difficult. they turn and they create energy, it is difficult to get that energy over to the coast and we generate a lot of wind energy in the country. and it's difficult to get overlooked where it's needed. and once you start trying to get it out elsew
to squeeze out any kind of gain. liz: let's get to that and the details of it, the fed saying the economy is growing calling a modest to moderate pace. saying there are particular signs of economic activity in the auto and tech industry specifically. david: company hiring rose the fastest pace in a year. showing a gain of 215,000 jobs last month. the data coming out a couple of months before friday's job report from the labor department. liz: the rate of growth in the services sector of the economy slowed. saying nonmanufacturing index slipped. david: sales of single-family homes surged the most in more than three decades in october. commerce department reported sales soaring to a seasonally adjusted annual rate of 444,000 units. liz: the trade deficit narrowing as exports hit a record high. picking up in global demand that could help boost american growth in the fourth quarter. david: and falling of the fda revealed the company recalling 1400 robotic surgery systems because of concerns the devices could stall and that was bad news for the stock. "after the bell" starts right now. liz: i
more positive news on the economy, lower on the statement that the fed will real in the stimulus. nicole petallides on the floor of the stock exchange on track for a fifth day of declines. nicole: we come off of the lurch and worth noting technology stocks, and attack have been nasdaq moved into the green moments ago for the nasdaq. up four points at 2,049. the s&p and the dow have down arrows. 15,823, and the loss is just 24 points. keeping an eye on the fear index, some strength in retailers, and what the fed will be doing. j.c. penney under pressure again, topsails coming in for j.c. penney and the lot of analysts say those 6 months are they're looking at markets, whether or not they believe some funding for next year. cheryl: thank you. huawei adam: the world's largest carrier may be carrying the iphone according to the wall street journal's china mobile, will likely author the phone later this month so what does this mean for companies? with more details and to break it down. >> to give some perspective, seven hundred million subscribers, the number of users of verizon in th
at headquarters buying goods thinking it's moving out the door, but the economy is-- consumers are telling something different. stuart: you're famous for going into the stores with your video camera and pointing out messy stores, stains on the floor, in this case lots of product lying around unsold, but you know, wal-mart's always like that. a lot of discount stores, big box retailers, they are kind of messy, target's not, i got that, but a lot of the rest are, and are you reading too much into this. >> they came out on black friday and set unrealistic expectations, 29 cent towels and a remarkable quarter. i say no way jose, and they're going to have to mark it down. they have he an issued two warnings and-- >> they won't issue the warnings report until next february. >> correct. stuart: if they do that, the stock will go down? >> i think it will continue to underperform, and where it will get hit are those that supply the company. stuart: and working people and middle class people are getting a squeeze in this particular economy, do you think that's hitting wal-mart and their inventory? >
with jim cramer and david faber. we'll get to that apple news in a minute. but the broader economy making some headlines here. gdp revised up to six. there's questions about stockpiling, as well. the ten-year did pick up the 287 off just a touch now. the ecb hold rates steady. our road map this morning, the market, strong gdp claims data putting pressures ahead and sparking more concerns about potential fed tapering. >> apple is in the news for reports ooh a deal to china mobile and carl icahn is revising his call for a share buyback. >> we'll look at the winners and losers in retail. >> wow. >> first up, though, the ten-year notarizing on better than expected economic data, revised third quarter gdp up 3.6 while weekly jobless claims fell below 300k. this all happened on the 17th anniversary of alan greenspan's irrational exuberance speech in 1996. >> how do we know when irrational exuberance has unduly escalated asset values which then become subject to unexpected and prolonged contractions as they have in japan over the past decade. >> that leads us to a good question, jim. last night,
♪ >> unions take a hit. opec in disarray. wal-mart has a very good day and the economy slowing down or speeding up, which is it? good morning, everyone, there's a lot to deal with so here we go. detroit's unionized pensioners will see their benefits cut. watch out other american cities. frack, and floods the world with oil, and opec is split. what's a cartel to do? an on-line shopping binge rolls on. wal-mart had its best day ever. and stocks will open lower again? yeah, a big day. "varney & company" is about to begin. hi honey, did you get e toaster cozy? yep. got all the cozies. [ grandma ] th n fedex one rate, i could ll a box and ship it r one flat rate. so i kn untilt was full. you'd be crazy not to. is tt nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. i
276. that's been a pretty significant change. >> a big move but at the same time economy a little bit better. >> unless you count jobs numbers, right? which we'll get another look on friday. >> you want to go against the autos? >> i think gm will have great numbers. there's momentum that's difficult. david, you made the best point. do i want to sell anything other than the losers? five stocks in the dow up less than 10% and clunkers. okay in maybe you want to sell a clunker, caterpillar. a clunker, ibm. otherwise, why take the gain issue? >> i talked to a couple of guys who believe we will have a technical melt-up in the winners for this very reason. >> why would you sell them? you'll buy more or conceivably because nobody has a reason to sell them. we look at the supply. i look at the quarters to me the most important thing is not the revenue growth, not the earnings growth but the shrinkage. companies bought their own stock hand over fist and not a lot of stock for sale. i think it's major. >> looking for clues as to how business news, working into the overall american psyche, check
care debate is over, that we've got to make this work. the real issue is going to be the economy. the average wages of working americans declined in the past ten years, how do rewe restore growth in the pocket books not just in the stock market for the american people? we've got to lean in on that and start addressing the concerns of parents trying to send their kids to college, get them jobs. retirement security, these are things that have been put on the side and it's really a discredit that congress is focusing on middle class concerns. >> congressman, to that point, we're seeing a rising movement across the country in support of raising the minimum wage, something that republicans and congress seem to have no interest in doing. but are you hearing from constituents that that's a concern to them? do you think ultimately we could see enough pressure brought to bear that even republicans in congress admit that we need to raise the minimum wage that it would be good for the economy and lift a lot of people out of poverty? >> absolutely. when you see the stories about food service
? >> it may be overdone. the fundamentals in the economy justify the equity and well. it is hard to correlate with the sluggish growth we continue to see. outside of that the asset purchases by the fed and aggressive monetary policy we have seen serves the purpose of inflating risk premiums and essentially causing them to tighten places they wouldn't otherwise be. i don't think that is just an equity or fixed income issue. all sectors will be affected if that begins to unwind. connell: one of the big stories no doubt it's going to be one type of federal reserve will generate yellen oversee and willie federal reserve as to this risk or take away from it. what is your view? >> from a market perspective it is all about expectations, and the expectations are already in the price of fed is going to taper. we think the fed essentially already tapered this summer, so if you look back to announcements when the fed announced aggressive asset purchases, interest rates began to rise after that announcement. we would not be surprised to see riverreverse happen as the fed announces tapering of quantitativ
understand the connections of a complex, global economy. it's just one reason over 70% of our mutuafunds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. adam: yes, another icon of magazines has gotten back just as vennable name you thought had died is mounting a comeback in print. like horse buggies. horse whips. dennis kneale with all the news fit to print. dennis? >> "newsweek" back from the dead. venerable "newsweek" went out of print late last year. clinging to the online existence in the belly of "the daily beast". the beast is knew a small buyer. "newsweek" says run the presses it will be a print version next year, a shadow of a it former self, 64 pages. gets more money from subscribers than advertisers. with startling circulation of only 100,000. that is basically a small local newspaper for once venerated national magazine that peeked at 3 in.3 million subs in 1991. -- 3.3 million subs. iconic "new york" magazine, i
. try campbell's homestyle soup. >>> the latest jobs report shows good signs for the economy. the unemployment rate dropped to 7% in november while 203,000 jobs were created. down from october's unemployment rate of 7.3%. these numbers come as many job seekers are preparing to take the traditional pause in their hubt for work in time for the holidays. but that may be a bad idea. john challenger is the ceo of challenger, gray and christmas. zachary karabell is a cnbc contributor. he's a writer as well. he's written a book as well. john, let me start with you. many folks put off their job search during the holidays thinking that companies don't hire during this time period. why is that not the right thing to do? >> first of all, the data doesn't support it. last november, over 4.66 million people found jobs in november, just slightly down in december. so it is a time when employers especially in this kind of 24/7/365 business environment we're in, they're always hiring. they always have issues. so the last thing you want to do is put your search on hold. the very fact that a lo
/2 year, 57.3 would suggest the u.s. economy is gradually regaining momentum. and on the currency markets, dollar/yen now up to 103.08, up to fresh six-month high on dollar/yen. euro/dollar, just below the 1 .36 mark we were at on thursday and sterling just back from that 1.64 of 11.6 1.6384. the aussie is the second worst performer after the g-10 in the currencies. australia's central bank says the country's currency is still uncomfortably high. those comments sending the yield down further. little urgency for more rate cuts. policymakers keeping them on hold. earlier cuts are still taking effect once inflation is tamed. joining us with his thoughts, may bank in singapore. andy, thanks for joining us. is the aussie/dollar going to get weaker? >> i think generally if you look at the markets, you look at the options site, it looks like we're probably going to see a bit of saturation on the short aussie. you're probably going to see a limit about the 90 levels. but our view is tapering in the first quarter, probably first quarter of next year, it may go down to about 88 cents against the do
with significant gdp recovery. connell: treating the economy like a crisis, talking about the recovery has been slow but not a crisis anymore and we need to get rid of this policy. >> the fed board in $3.5 trillion adding $85 billion a month. it is another trillion. and they did it in an environment where they were returning to normal behavior patterns. connell: the idea of being straightforward, absolutely, what happened? what is the follow-up? >> whether it is tech stocks, they go to an extraordinary level. bond prices go up because yields are coming down. you always get a warning at the end of the bubble, extraordinary reversal, and look at the bond markets, we just had that. at 1.7% on a ten year treasury, at an all lori: pace. after ben bernanke set i am worried about the pace of the interest rate, and climbing back up, all this money, inflation is inevitable, interest rates go up. and the bond bubble move, a bursting of the bubble, risk takers. and they are the ones that get hurt. connell: you are absolutely right, people have shifted their life savings to the bond market. interesting we
to face but on the other hand san jose is a major city with a diverse economy and a lot of resources to face the challenge with. adam: thank you very much. a reference on that is the morningstar report. that looked at municipal debt of cities throughout the country. thank you for coming to talk about this. won't end anytime soon. lori: detroit not alone working out the debt problems. lawmakers in illinois gearing up for a vote to close the state's $100 billion pension shortfall. the proposed plan includes raising the retirement age for workers younger than 45 and cutting retirement benefits. the plan is supportive of governor pat quinn and unions say they will sue if the legislation is passed. automakers were thankful for thanksgiving weekend, the big three posting monthly gains in november compared to this time last year. ford's november sales jumped 7%. gm notched 14% gain and big winner chrysler coming with a 16% sales increase. a slow month for auto sales manufacturers offer deals to capitalize on the holiday shopping season. adam: is now the time to get bullish? the biggest bear
for the economy. melissa: do you have any idea roughly what percentage? because that's all the the complaint in the holiday season, people say there's great seasonal work, and, in fact, in our next segment we're talking about how people can really find jobs this time of year that turn out to be permanent. about how many do you think end up being permanent? >> i don't have a specific number percentage, and some of that will depend on our growth as we move into the year and the economy and demand for our services, but it has been consistent that seasonal positions turn into full-time positions for us for the past several years. melissa: we've seen a huge jump in online shopping. we saw that even this week as, you know, so many stores went out and opened on thanksgiving, and they did everything they could to get more shoppers into brick and mortar stores. black friday weekend. and still the number of shoppers out there and the amount of money they spent on foot, brick and hour tar, went down. do you see the pick beup in shipping? is all that moving online, or are people just shopping less? what
takeaway now from the data that we're getting? >> i think the economy was strong in the third quarter and some of the weakness that we're going to get in the overall gdp number in the fourth quarter i think is exaggerated by inventory turn around. jobs are doing okay, we came back from a little swoon we had in july/august and it looks like businesses in the private sector were able to find their way through or even see through the government shutdown and hired and seem to be doing okay with the big exception to the data capital investment, simon. >> i know that's a big thing for next year. tom, the dow and s&p have each recorded eight consecutive weeks of gains. is it any wonder that we're correcting? >> i think what the market has to grapple can is what's your next catalyst to move higher? we have a modestly better economic profile built in for 2014 but it's still a better profile. while it may seem like a rather small advance from this year, the the bottom line is the incremental growth could be seen as a catalyst into the equity market in 2014. >> what do you think, rob, will work
that economy hold steady during the ship down. growth of moderated or modest, due to manufacturing and consumer spending. sales of new homes grew 25 1/2% ino, biggest monthly increase since 1980. that is after three months of softer sales. >> and president obama said that income gap between the rich and the poor is jeopardizing the middle class, urging congress to make sure that economy works for everyone. and some hot stories right now on fox, one man accused of abusing the privilege of being a frequent flier, his side of the story. >> have you ever considered rating your marriage on a scale from 1 to 10? why it might be a good idea, coming up. as a business owner, i'm constantly putting out fires. so i deserve a small business credit card with amazing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase, every day. i break my back around here. finally soone's recoizing me with unlimited rewards! meetings start at 11, cindy. [ male announcer gethe spark business card from capital one. choose 2% cash back or double miles on every purchase, every d. w
of a complex, global economy. it's just one reason ver 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. you can fill at box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] fedex one rate. stick with innovation. stick with power. stick with technology. get the flexcare platinum. new from philips sonicare. wow...look at you. i've always tried to give it my best shot. these days i'm living with a higher risk of stroke due to afib, a type of irregular heatbeat, not caused by a heart valve problem. at rst, i took warfarin, but i wondered, "could i up my game?" my doctor told me about eliquis. and three important reasons to take eliquis instead. one, in a clinical trial, eliquis was proven to reduce the risk of stroke better than wa
of our time making sure our economy works for every working american. the opportunity gap in america is now as much about class as it is race. that gap is growing. so if we're going to take on growing inequality and improve upper mobility for all people, we've got to move beyond the false notion this is an issue exclusively of minority concern. >> good morning major garrett at white house. >> reporter: good morning charlie, norah, viewers out west. he gave the speech of what he believes an obsession republicans have to prosperity. the white house disagrees on this issue coming front and center in the next couple of weeks. congressional negotiator democrats and republicans on capitol hill are trying to figure out a way to avoid the second round of across the board spending cuts otherwise known as sequestration. those cuts would harm the push for better economic growth and wage equality. another push from the president, renewed push for higher minimum wage. currently $7.25 an hour. the white house backs the democratic proposal to raise to $10.10 an hour. these are
, but the bottom line is the economy's slowly but surely growing stronger. s&p is now set to join the nasdaq at new highs above november, we know that in the month of december going back over the last 60 years that a move to new highs in the s&p, the next 10, 20 and 30 days forward typically has been positive. so that's interesting. but, yeah, continue to be real signs of resilience, you know, despite the fact there areling oring concerns regarding momentum -- lingering concerns ahead of the holiday, but stocks respect paying attention. we continue to hit new highs, and the market right now has been resilient. cheryl: i want to go to garrett at the cme because, certainly, with the dow and s&p we did break a fife-day -- five-day losing streak, but we've seen a lot more volatility in the vixx. and you have to wonder as we go towards the end of the year if we're going to have a little more volatility as volume gets lower. do you take that seriously, gary? do you really watch the tape as we get closer to the end of the year? >> well, of course you do. when you look at the volatility levels we've had, n
. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their0-year lipper average t. rowe price. invest with confidence. with investment information, risks, fees and expenses to read and consider carefully before investing. > >> tonight reaction to our reports on a possible doctor shortage in america and the health care system in canada. joining us from washington, juan williams. do you concur the shortage prediction? >> the whole system is changing. neither of them take medicare and medicaid patients at the moment. so they're not great examples. i think most doctors will tell you they don't think they're going to get a lot of money out of this system. >> let's assume -- and i disagree with you. these doctors are being upfront and they're saying, look, we want to do a practice a certain way and they have a right to do that. if that plays out that if doctors say not worth it, not making enough money, want to do quality care and get paid in a certain way, not through the federal government, inevitably there will be
. >>> the dow lost 68 points. the nasdaq lost four. the economy grew faster than expected. >>> twitter has named a woman to its board of directors for the first time. 66-year-old margerie scardino is the former ceo of a communication company. in the past twitter has been criticized for the lack of women on its boards and top officials. >>> the -- this quilt honors 45 people who have died of aids. youth uprising says it's hosting the quilt to raise awareness for aids. >>> two schoolmates diagnosed with cancer just days apart. how a community is rallying behind the girls and their families. >> i break down and cry all the time because i just can't even believe the generosity. >> a freeze warning still in effect and winter weather advisory on the way. the unusual conditions still to come in the bay area forecast. >> and next a rash of burglaries. >> the neighbors across the street that have been broken into and had their stuff taken. >> why police believe one teenager is to blame. ♪ i love it! ♪ thank you grandma for the dolls. ♪ ♪ i love it! ♪ i'm ninja kicking through the halls. ♪
intersection. >>> one sign we are seeing of an improving economy is the holiday partying. here's an example of that. the general manager says she's seen more reservations for holiday parties than in previous year. so far that restaurant has booked 25 parties and six more are waiting to be confirmed. >>> we have parties from 10 people to 100 people. >>> she says those parties can account for 10% of the year's revenue and this year she says is looking pretty good. >>> it's the ultimate gift for a coffee lover. an extremely limited rose gold colored metal gift card. it's $450. only 4,000 were available and they sold out in second. some are going for more than $1,500 on ebay. some customers are not happy about the sale. luxury own line posted and then pulled the card immediately. >>> an unusual art theft in sacramento and it was met with an unusual punishment. a print of a nude woman on a cigar has hung for many years. there have been attempts to steal it but someone finally made off with it. but police used cameras to identify the thief. he managed to bargain his way out of being prosecuted.
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of 2015, as well as generating tens of thousands for the economy. >> you will not want to miss sports night which is hosted by gary radnich. it was also featured gary's radio partner larry krueger. this is a brand new show here on kron4 spread we will have live the debates and interviews. the show will premiere thursday night at 9:00 p.m.. >> we will be right back. >> on welcome back. we are tracking a another cold morning. >> earlier this morning we drop down into the teens in petaluma. we have plenty of low 20s but now we have bottomed out and the temperatures are not set to drop any more. it is very frigid at 21 degrees out the door. it is a little cooler closer to the west porto area. we have actually seen some of the coldest on readings but we still have the freeze on and on till 9:00 a.m. this morning pripet the national weather service is scheduled to reissue the freeze warning tonight into tomorrow. this will impact mostly everyone to keep them on the coldest readings are between 6:00 a.m. and 7:00 a.m. this morning. i want to break down your afternoon high, the winds will inc
understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their0-year lipper average t. rowe price. invest with confidence. with investment information, risks, fees and expenses to read and consider carefully before investing. losing thrusters. i need more power. give me more power! [ mainframe ] located. ge deep-sea fuel technology. a 50,000-pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. our current situation seems rather extreme. why can't we maximize our... ready. ♪ brilliant. let's get out of here. warp speed. ♪ it's not the "limit the cash i earnvery month" card. it's not the "i only earn decent rewards at the gas station" card. it's the no-games, no-signing up, everydayewarding, kung-ffighting, silver-lightning-in-a-bottle, bringing-home-the-bacon cash back card. this is the quicksilver card from capital one. unlimited 1.5% cash back on eve purchase, everywhere, every single day. so ask yourself, what's in your wallet? every day we're working to an
is there for your personal economy, helping you readjust along the way, refocus as careers change and kids head off to college, and revisit your investments as retirement gets closer. wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. >>> back now at 7:43 on this so-called cyber monday. now the term has been around for less than ten years and in that time sales nearly quadrupled. the estimates for today nearly $2 billion. janet shand lee inis in phoenix at's fulfillment center. good morning. tell me how busy are they at amazon? >> reporter: well, take a look at the conveyer belt, natalie. that should tell the tale. we are in the early morning hours. we're on the biggest shopping day of the year. chances are, if you're buying something from amazon it might be coming from here. this is one of 40 fulfillment centers across the country. this is one of the biggest. it's the size of 20 football fields, 6 miles of conveyor belt. 6,000 would be a lot. and thousands of workers like this gentl
. the upside is that the forecasters expect that the u.s. economy is gore to grow faster in the new year. >> is seems like they will taper and the concern is that if they do this, the interest rates could jump up. >> the time is 5:21 a.m.. former san diego mayor bob feel honfilner will be sentenced today on felony and misdemeanor charges. he pleaded guilty in october to charges related to placing a woman in a headlock, kissing another woman and grabbing the box of a third. a plea agreement, prosecutors said they will recommend that he did three months of home confinement and three years of probation and. the 71 year-old democrat left office august 30th it. >> a trip from louisiana to california took a bizarre turn. during a convention in houston. tom wagner says that he fell asleep on an express a jet flight filled with passengers, but when he woke up he was all alone and locked inside. he remembered that he took off his head after boarding the flight in lafayette and dozed off. he said that he woke up to wet cold pitch black cabinet houston. he stated that he was frantic and called his
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